https://www.taxtmi.com/caselaws?id=28168 Goodwill of a partnership firm does not pass on the death of a partner for estate duty where the partnership deed expressly excludes any adjustment for goodwill on death or retirement. In that situation, the firm stands determined on death, no contractual or proprietary benefit in the goodwill accrues to the deceased partner's heir, and a later partnership with the surviving partner is treated as an independent arrangement. The result is that the goodwill is not includible in the estate under sections 5 and 7 of the Estate Duty Act, 1953. en-us Tue, 26 Apr 1983 00:00:00 +0530 Fri, 19 Feb 2010 13:50:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28168 Goodwill of a partnership firm does not pass on the death of a partner for estate duty where the partnership deed expressly excludes any adjustment for goodwill on death or retirement. In that situation, the firm stands determined on death, no contractual or proprietary benefit in the goodwill accrues to the deceased partner's heir, and a later partnership with the surviving partner is treated as an independent arrangement. The result is that the goodwill is not includible in the estate under sections 5 and 7 of the Estate Duty Act, 1953. Case-Laws Income Tax Tue, 26 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28168